Santos CEO Kevin Gallagher Says More Buyers Want Australian Gas Because Of Mideast Conflict, With Longer-Term Contracts, Destination Flexibility; We Certainly Will See Substitution For LNG Supplies This Winter; Beetaloo Basin, Northern Territory, Australia Is Where Most Of Future Activity Will Be Concentrated To Bring New Supply To Market

Santos CEO Kevin Gallagher stated that the ongoing conflict in the Middle East has increased demand for Australian gas, leading to longer-term contracts and greater destination flexibility for buyers. He noted that there will likely be a substitution for LNG supplies this winter. Gallagher emphasized that future activities will primarily focus on the Beetaloo Basin in Northern Territory, Australia, to enhance market supply.